Business Archives

Henry Hazlitt: How Does Saving Affect the Economy?

How does saving affect the economy? Do you think keeping your money in a saving account or in investments has a positive or a negative effect on the country’s national wealth? Saving is generally seen as a bad thing for the economy because savings deprive spending on goods and services, thereby hurting national wealth. However, this is a fallacy—savings do the exact opposite in the long run. In this article, we’ll take a look at what actually happens when people choose to hold on to their money.

Build an Effective Team: Learn From Google’s Example

What ingredients do you need to build an effective team? What can be learned from Google’s experience? In the early 2010s, Google began to research how to build an effective team. They learned that teams should have four key norms. What they discovered about team productivity can work for your team, as well. Read more to learn how to build an effective team.

Henry Hazlitt on the Negative Effects of Minimum Wage

How do minimum wage laws influence the economy? Are there any negative effects of setting a minimum wage? The minimum wage is generally seen as a good thing that benefits the workforce. However, according to economist Henry Hazlitt, minimum wage laws actually hurt employment and productivity. In this article, we’ll take a look at the negative effects of minimum wage laws on the economy at large.

Expert Advice for Starting a Business: Entrepreneur 101

Do you have a business idea in mind? What are some things you should consider before you embark on its execution? In his book Tools of Titans, entrepreneur and lifestyle guru Tim Ferriss shares the advice of 101 highly successful people he refers to as “titans.” Many of the titans he interviewed for the book are entrepreneurs of some kind. We’ve distilled their advice below. In this article, we’ll cover titans’ advice for starting a business.

How to Innovate: 4 Principles for Creativity to Thrive

Do you know how to innovate effectively? How can this skill lead to greater productivity and success? Productive people know how to innovate. In Smarter Faster Better, Charles Duhigg shares four principles that you can implement to create conditions for creativity and productive innovation to thrive. Read more to learn how to innovate, the Smarter Faster Better way.

The New One-Minute Manager: The 3 Core Principles

What lessons can you learn from Ken Blanchard’s book The New One-Minute Manager? How can you get the most out of your employees? The New One-Minute Manager teaches three core principles: one-minute goals, one-minute praisings, and one-minute redirects. You’ll learn how empowering your employees motivates them to work harder. Continue below for a brief overview of The New One-Minute Manager‘s core lessons.

Henry Hazlitt on Automation and Unemployment

Labor Market Discrimination and Income Inequality

Is it true that automation increases unemployment? How does labor-saving technology affect the economy? It’s a common misconception that automation leads to unemployment. In fact, automation increases production, because more output creates larger profits for businesses, enabling them to expand production, hire more workers, and/or raise wages. In this article, we will debunk the myth about automation and unemployment and explain why labor-saving technology actually creates more jobs than it eliminates.

The 3 Kinds of Managers: Tough, Nice, and One-Minute

How does Ken Blanchard describe the three kinds of managers? What sets a one-minute manager apart from nice and tough managers? In his book The New One-Minute Manager, Ken Blanchard discusses the three kinds of managers: tough, nice, and one-minute managers. One-minute managers instill confidence in their employees and are experts at time management. Keep reading to learn more about the three kinds of managers.

The Top 2 Strategies to Improve Workplace Productivity

Could your workplace productivity use a boost? Would you like to learn how to get more done professionally? In Smarter Faster Better, Charles Duhigg shares two principles that are crucial to improving workplace productivity. Becoming more productive isn’t about working more hours or constantly pushing yourself to do more. Instead, it’s about making wise choices in certain areas. Read more to learn how to improve workplace productivity.

One-Minute Goals: Give Your Employees Direction

What are one-minute goals? How do you set them? Why do one-minute goals work? If you want to learn how to be a one-minute manager, then you need to learn about one-minute goals. Each goal you set should be readable in one minute or less, hence the name. When you have these written performance standards and deadlines, employees feel more driven and have direction. Here’s why you should set one-minute goals for your employees and why they work.